President Marcos provides an update on energy security - #SONA2023 - video Dailymotion

GMA Integrated News

President Marcos discusses power generation and pursuing full household-electrification by the end of his term. He also mentions the need for more renewable energy in the country. #SONA2023

Transcript

00:00 Owing to favorable market conditions, the price of crude oil has stabilized.

00:06 Since last year, gasoline and diesel prices have gone down by 18 to 29 percent, respectively.

00:12 We have built eight new additional power plants.

00:16 This brings to 17 the total number of power generation facilities that have been switched

00:21 on across the country since last year, substantially increasing our energy production by 1,193

00:29 to 174 megawatts.

00:32 Alongside power generation, we are also as relentless in pursuing total electrification.

00:38 Since my assumption into office, almost half a million homes have been given access to

00:43 electricity.

00:44 We will spare no effort to achieve full household electrification by the end of my term.

00:50 One hundred percent is within our reach.

00:57 When it comes to energy, renewable energy is the way forward.

01:02 We are aggressively promoting renewables so that it provides a 35 percent share in the

01:07 power mix by 2030, and then on to 50 percent by 2040.

01:13 To accelerate the realization of this green energy goal, we have opened renewable energy

01:18 projects to foreign investments.

01:21 Since last year, an additional 126 renewable energy contracts with a potential capacity

01:28 of 31,000 megawatts have been awarded.

01:32 To date, we have over 1,000 active projects spread all over the country.

01:37 Two hundred ninety-nine of these are solar, 187 are wind, 436 are hydroelectric, 58 biomass,

01:46 36 geothermal, and 9 are ocean-powered.

01:51 The Malampaya project has been a boon to our country, energizing 20 percent of Luzon.

01:57 The renewal of the contract guarantees continued revenues in energy production for another

02:02 15 years.

02:04 But aside from Malampaya, we will also push for more gas exploration in other parts of

02:09 the country.

02:11 The national government has also partnered with the BARMM in regard to energy exploration

02:17 and development, and also its utilization within its territorial jurisdiction.

02:23 We therefore expect to see renewed investor interest in its promising sites.

02:29 We finally have a unified national grid with the interconnection of the Luzon, Visayas,

02:36 and Mindanao grids.

02:37 The one grid, one market will enable more efficient transfers and more competitive pricing

02:44 of electricity throughout the country.

02:47 However, 68 grid connections are much delayed, according to the ERC's count.

02:54 We are conducting a performance review of our private concessionaire, the National Grid

02:59 Corporation of the Philippines.

03:06 We look to NGCP to complete all of its deliverables, starting with the vital Mindanao-Visayas and

03:13 Cebu Negro-Spanay interconnections.

03:15 [APPLAUSE]

President Marcos provides an update on energy security - #SONA2023

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